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Excavation Underway for Catsimatidis’ New Building in Chelsea

NEW YORK – Greek-American billionaire John Catsimatidis has a new building in the works in Manhattan’s Chelsea neighborhood, Chelsea News reported, noting that “excavation work is underway for a new ten-story mixed-use building at 8th Avenue and West 24th Street.”

“Designed by SLCE Architects and developed by Catsimatidis’ Red Apple Group, the building will span 58,021 square feet, 52,432 of which will comprise 64 rental apartments,” Chelsea News reported, adding that “these will reportedly average out at around 819 square feet each.”

“Another 4,642 square feet will be reserved for commercial space,” Chelsea News reported, noting that “the 947 remaining square footage will go towards a ‘community facility’, [and] the 113-foot tall structure will stand kitty-corner across from Mount Sinai’s Peter Krueger Clinic.”

“A visit to the construction site during the bitterly chilly afternoon of Jan. 18 revealed that a sizable rendering was present, as  was first reported by the real estate blog New York Yimby,” Chelsea News added, pointing out that “it appeared that somebody had written the cryptic phrase ‘KING COVID’ on the rendering in purple marker,” and “loud booms from the excavation work were audible across the street.”

“The building will be replacing a Rite-Aid that has since been demolished,” Chelsea News reported, noting that “permits to do so were issued by the Department of Buildings last fall, after Red Apple Group applied for them last January via an entity called Cats 280 Eighth Avenue LLC.”

“Catsimatidis, a billionaire Greek-American grocery store magnate that serves as the CEO of the Gristedes and D’Agostino Supermarket chains, is the chairman of Red Apple Group,” Chelsea News reported, adding that “it is named after a grocery chain he founded on the Upper West Side in 1971, and holds assets in everything from real estate to the energy sector.”

The article goes on to mention Catsimatidis’ interest in politics and that he was the runner-up to Joe Lhota in his run for the Republican nomination in the New York City mayoral election in 2013. Lhota eventually lost to Democrat Bill de Blasio in the general election.

Catsimatidis in 2019 “purchased WABC-AM 770 AM for $12.5 million,” Chelsea News reported, noting that “he quickly turned it into a platform for right-wing, MAGA-adjacent personalities,” including former “Fox TV personality Bill O’Reilly, former NYC mayor and disgraced Trump attorney Rudy Giuliani, and Newsmax television host Greg Kelly.”

Catsimatidis “also hired Bruce Morrow, the rock ‘n roll DJ host known as ‘Cousin Brucie,’” Chelsea News reported, adding that “neither the Red Apple Group nor Catsimatidis returned calls for comment on the real estate project.”

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